Offshore Trading accounts

[Elmer Phud]

Russian -

How do you get money into the account without creating a paper trail?

[The Russian]

Offshore Trading Accounts - good and bad

First of all, you need to decide where you want to transact business - then do your due diligence.
I recommend that you pick a country that is in your same time zone, because at some point you will probably need to make phone calls, in order to do business. The French like the Seychelles, but unless you want to do business in the middle of the night, I don't recommend the Seychelles.
FYI - that is probably why the Caribbean is so popular - but be careful - many islands such as the Caymans are a target hotspot for the Obama administration. They have a hard on for going after offshore money (well, how else are they going to repay the national debt). Thus, they have an amnesty program running - so that offshore investors come clean. So remember, you are suppose to report all of this to the gov.

However, should you choose not to, you will need to protect yourself by establishing an IBC - International Business Company (this can be easily done by any offshore attorney). As a precaution, I would have the shares of the IBC, owned by an international trust, that you have the attorney create (this gives you 2 layers of protection). Once you have these things in place, you are ready to open your Trading account - in the name of your business - DO NOT put it in your name - do your due diligence and look for a reputable firm (ask you attorney). The big plus is that you can then participate in trading without incurring capital gains or other taxes. FYI - most of the Caribbean will not charge taxes on accounts held by foreigners.

[The Russian]

Offshore Trading Accounts - good and bad

First of all, you need to decide where you want to transact business - then do your due diligence.
I recommend that you pick a country that is in your same time zone, because at some point you will probably need to make phone calls, in order to do business. The French like the Seychelles, but unless you want to do business in the middle of the night, I don't recommend the Seychelles.
FYI - that is probably why the Caribbean is so popular - but be careful - many islands such as the Caymans are a target hotspot for the Obama administration. They have a hard on for going after offshore money (well, how else are they going to repay the national debt). Thus, they have an amnesty program running - so that offshore investors come clean. So remember, you are suppose to report all of this to the gov.

However, should you choose not to, you will need to protect yourself by establishing an IBC - International Business Company (this can be easily done by any offshore attorney). As a precaution, I would have the shares of the IBC, owned by an international trust, that you have the attorney create (this gives you 2 layers of protection). Once you have these things in place, you are ready to open your Trading account - in the name of your business - DO NOT put it in your name - do your due diligence and look for a reputable firm (ask you attorney). The big plus is that you can then participate in trading without incurring capital gains or other taxes. FYI - most of the Caribbean will not charge taxes on accounts held by foreigners.

[smpathy4dadevil]

lol! good board

[anchorcheck]

I've been thinking about the same thing. I'm looking for an offshore account, and also a good brokerage firm that would give me the flexibility that some professional traders have.

I met someone online who had set up an offshore account this summer. He said to be careful, there are scams out there. But he set one up in the Caribean.

I'm not sure about account size though.

[JT_Marlin]

How do i get one in hong kong?